Coherent, Inc. (NASDAQ:COHR) had its price target boosted by stock analysts at Stifel Nicolaus from $145.00 to $170.00 in a research note issued on Monday. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 19.61% from the stock’s current price.
Several other research analysts have also recently weighed in on the company. Benchmark Co. lifted their price target on Coherent from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, December 28th. Needham & Company LLC reiterated a “buy” rating and set a $145.00 price target (up from $130.00) on shares of Coherent in a research report on Monday, November 14th. Northcoast Research started coverage on Coherent in a research report on Tuesday, October 25th. They set a “buy” rating and a $130.00 price target for the company. Finally, Zacks Investment Research cut Coherent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 27th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $134.83.
Shares of Coherent (NASDAQ:COHR) traded up 0.981% during mid-day trading on Monday, hitting $143.525. The stock had a trading volume of 103,228 shares. Coherent has a one year low of $56.72 and a one year high of $143.81. The firm has a 50 day moving average of $134.08 and a 200-day moving average of $112.00. The stock has a market cap of $3.52 billion, a P/E ratio of 40.091 and a beta of 0.80.
Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.13. Coherent had a return on equity of 11.69% and a net margin of 10.21%. The firm earned $248.50 million during the quarter, compared to analysts’ expectations of $241.76 million. During the same period last year, the business posted $1.25 earnings per share. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. Equities research analysts expect that Coherent will post $7.84 earnings per share for the current fiscal year.
In other Coherent news, VP Luis Spinelli sold 4,328 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $126.02, for a total value of $545,414.56. Following the sale, the vice president now directly owns 11,221 shares of the company’s stock, valued at $1,414,070.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Stewart Sobey sold 4,593 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $119.00, for a total value of $546,567.00. Following the completion of the sale, the executive vice president now directly owns 18,020 shares in the company, valued at $2,144,380. The disclosure for this sale can be found here. 1.83% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of COHR. Parametrica Management Ltd acquired a new stake in shares of Coherent during the second quarter valued at approximately $515,000. Skylands Capital LLC raised its stake in shares of Coherent by 325.0% in the second quarter. Skylands Capital LLC now owns 49,300 shares of the company’s stock valued at $4,525,000 after buying an additional 37,700 shares during the last quarter. Albion Financial Group UT raised its stake in shares of Coherent by 25.1% in the second quarter. Albion Financial Group UT now owns 3,095 shares of the company’s stock valued at $284,000 after buying an additional 620 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Coherent by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the company’s stock valued at $991,000 after buying an additional 100 shares during the last quarter. Finally, Strs Ohio raised its stake in shares of Coherent by 2.9% in the second quarter. Strs Ohio now owns 14,000 shares of the company’s stock valued at $1,284,000 after buying an additional 400 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.
Coherent, Inc is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).
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